AUSTRALIA RAW.AX 0,01 AU$ 0,00%

Quarterly Activities Report

Publié le 18 octobre 2016

Quarterly Activity Report Period ending 30th September 2016

CONTACTS:

Rawson Resources Limited ASX Code: RAW

www.rawsonresources.com

Registered Office:

C/- McCullough Robertson Level 32

MLC Centre

19 Martin Place

Sydney NSW 2000 Australia

Postal Address:

GPO Box 3374

Sydney NSW 2001 Australia

Tel: +61 2 8035 4468

Fax: +61 2 8079 0702

DIRECTORS:

Chairman:

Mr Allister Richardson

Non-Executive Directors:

Mr Richard Ash

Mr Michael McGowan

OFFICERS:

Company Secretary:

Ms Sarah Potter

CORPORATE REGISTRY:

Boardroom Pty Ltd

Level 12, 225 George Street

Sydney NSW 2000

GPO Box 3993

Sydney NSW 2001

Tel: 1 300 737 760

Tel: +61 2 9290 9600

Fax: +61 2 9279 0064

HIGHLIGHTS

Corporate/Finance:

The Company, via its majority owned subsidiary Dondonald Limited, secured a capital investment of approximately $750,000 from a group of resident PNG investors
The injection of capital provides funds required to progress early stage exploration efforts across our Papua New Guinea exploration portfolio, which includes PPL 549, PPL 391 and APPL's 550, 560 and 594
Annual report to shareholders to 30 June 2016 completed this quarter.

Production Activities:

PRL 26 (Udacha) - Cooper Basin
Gas production at Udacha-1 commenced 8 July 2016, providing Rawson with its first ever production revenues
Udacha JV continues to progress towards drilling proposed Lowry-1 well.

Exploration Activities:

Papua New Guinea
Application for Petroleum Prospecting Licence (APPL) 594 lodged with DPE
APPL 550, APPL 560 and APPL 594 under assessment at DPE Otway Basin - South Australia
PEL 154 & PEL 155 - 12-month licence suspension granted

ASSET SUMMARY (as at end of Quarter)

Permit/Asset	Country	Basin	Rawson Interest (%)	Gross Area (km²)	Operator
PRL 26	Australia	Cooper	10%	14	Beach Energy
GSEL 645	Australia	Cooper	10%	14	Beach Energy
PEL 154	Australia	Otway	100%	302	Otway Energy
PEL 155	Australia	Otway	100%	226	Otway Energy
PPL 549	PNG	Aitape	60%	4947	Dondonald Limited
PPL 391	PNG	Aitape	60%	2334	Dondonald Limited
APPL 550*	PNG	Papuan	60%	1624	Dondonald Limited
APPL 560*	PNG	Cape Vogel	60%	4680	Dondonald Limited
APPL 594*	PNG	Aitape	60%	6360	Dondonald Limited

Rawson Resources Limited is an oil & gas exploration company, focussed on assets in high value strategic basins within the wider Asia-Pacific region, with key assets in the Cooper, Otway and Aitape basins. Rawson are currently participating in a Joint Venture with Beach Energy (ASX: BPT) in the Cooper Basin.

*Denotes Petroleum Prospecting Licence Application

Quarterly Activity Report P a g e | 1

Corporate/Financial Activities

Capital Investment Secured

On 18 July 2016, Rawson Resources announced that, via its majority owned subsidiary Dondonald Limited, the Company has secured a capital investment of approximately $750,000 from a group of resident PNG investors.

The transaction sees the investors subscribe for a 33% stake in Dondonald in exchange for cash invested of PGK 1,744,186 (A$ 750,000). There is also a Put and Call option available as part of the transaction, where Rawson can Call for purchase of the Investors shares in Dondonald with payment by way of a share placement of up to 15% of the current issued capital of Rawson Resources Limited (capped at 15,832,072 shares). This placement will be subject to Shareholder Approval and Listing Rule 7.1 as required. The Investors can also Put the Option to Rawson, should Rawson undergo a liquidity, merger or takeover transaction.

Subsequent to the completion of the investment the Ownership interests of Dondonald will be: Rawson Resources - 60%, PNG Investors - 33% and Moira shareholders - 7%.

The injection of capital provides the funds required to progress early stage exploration efforts across our Papua New Guinea exploration portfolio, which includes PPL 549, PPL 391 and APPL's 550, 560 and 594.

Production Activities

PRL 26 (Udacha) - Cooper Basin, South Australia

(Beach Energy 90% - Operator; Rawson 10%)

On 8 July 2016, Rawson Resources announced first gas production from Udacha-1. Although still in clean up phase, the well is expected to stabilise at 1.0 MMscfd, increasing to 1.6 MMscfd once compression is available at Middleton in early 2017.

The Udacha-1 gas production represents a significant milestone for Rawson as it is the first ever production providing a revenue stream for the Company.

The Udacha wet gas field (Figure 1) was discovered in 2006 by the Udacha-1 well and is located approximately 5 kilometres northwest of the Middleton gas plant and 3 kilometres from the nearby Brownlow field.

The block is located in the Cooper Basin, South Australia, and approximately 4 km west of the Brownlow-1 well and approximately 50 km north west of the Moomba Field.

Figure 1. Udacha licence, PRL 26, Cooper Basin, South Australia

Exploration Activities

PPL 549 - Aitape Basin, Papua New Guinea

(Rawson Resources 60% - Operator; PNG Investors 33%; Moira Limited 7%)

Having been awarded in May 2016 on a six year term, we are in the process of completing a review of previous exploration work in the area of PPL 549. This includes building geological, geophysical and GIS databases from which we will develop our interpretation and validate existing carbonate reef anomalies and the potential of clastic reservoirs. The results of this will inform the direction of further work.

Given the age of some the data and publications and the difficulty in sourcing these materials, it is expected the data collection, review and interpretation process will take a further three to six months to complete.

Figure 2. Rawson Resources Petroleum Prospecting Licence (PPL) 549.

PPL 391 - Aitape Basin, Papua New Guinea